|"Trevor Houghton" <email@example.com>
|Tue, 10 Sep 2002 08:06:14 +1200
Would someone be kind enough to explain the difference between ASB Capital Perpetual Preference shares (ASBPA) and WestpacTrust (WPT) shares.
I originally thought they were similar as in both are shares, both give exposure to the banking sector although obviously different banks and both are designed to be tax efficient for NZ investors as opposed to Australian bank shares where the dividends are taxed twice.
The WPT shares have dropped considerably over the last six months and can move 50 cents in a day. The ASBPA shares although have only just listed have only moved about a 1 cent. Are the ASBPA shares more a fixed interest investment? And therefore are they unlikely to show any capital growth over time? If thats the case then isn't this type of share a little misleading or confusing for the average investor?